America?s Top Banks

America?s Top Banks

Bank of America's Jeff Crawford in charge of the existing credit card accounts for the bank responds to my request to discuss credit card accounts and high interest rates on good paying customers not late and who pay their bills on time. The disturbing news is, banks raise rates under the assumption even good paying customers will fail even though they raised rates originally on good paying customers to cover the losses of others already failing on their cards. A clear understanding of a system that is set to fail and potentially hurt good paying customers and force them to seek out debt consolidation companies or bankruptcy as a result. Knowing this problem for many Americans could be avoided by keeping rates on good paying customers as they are to protect that revenue stream, Bank of America like others will be the culprit of many Americans failing in this next year and the government should hold them all accountable . The assumption that one good paying customer will fail to justify their risk assessment to raise rates should be the illegal side of banks powers and abilities. The result is, is in the fine print from the banks. They are charging you now the default interest rates as if you have already defaulted on your agreement. That should be an illegal practice in this country!! Like being guilty and having to pay the fine before your default may ever come. When any one lending institution can have that much control over a persons well being, congress needs to step ...

Credit Card - Bank of America JEFF CRAWFORD Update!!

(Source: FBI) - EUGENE, ORâ€"Randy Arlan Mainwaring, 41, former manager of the Thurston Branch of Key Bank in Springfield, Oregon, was sentenced to serve 30 months in federal prison yesterday by U.S. District Judge Michael R. Hogan for identity theft ... Former Key Bank Manager in Thurston Sentenced for Bank Fraud Scheme

In general, the banking sector is healthier. While some banks are struggling, many banks have seen improvements in operations. The following outstanding banks are chosen as based on eight measures on financial health including net interest margin, return on average equity, nonperforming loans, and reserves as a percentage of NPLs.

 

First Citizens BancShares operates two subsidiaries, First Citizens Bank and IronStone Bank. With $ 21 billion in assets, it is the 46th largest bank holding company in the United States. Its shares trade at a multiple of 1.1 times its book value.

 

NPLs/ Loans: 1.6% 

Reserves/ NPLs: 97%

 

Although Community Bank System has $ 5.5 billion in assets, its nonperforming loans are very low at 0.6%. This small holding company wholly owns five subsidiaries namely First of Jermyn Realty Company, Community Bank, N.A. (the Bank), CFSI Closeout Corp. (CFSICC), Inc. (FJRC), Benefit Plans Administrative Services, Inc. (BPAS), and Town & Country Agency LLC (T&C).

 

Price/ Book: 1.4 

Reserves/ NPLs: 220%

 

Bank of Hawaii is headquartered in Honolulu, Hawaii. The bank has $ 12.7 billion in assets. The stock of its trades for 2.2 times its book value. During the housing bubble, the bank was cautious in its underwriting strategy. Its conservativeness helped minimize the bad loans on its book today.

 

NPLs/ Loans: 0.9% 

Reserves/ NPLs: 296%

 

Based in Silicon Valley, SVB Financial Group provides commercial banking and financial services and products including money market accounts, certificates of deposit, sweep accounts, and checking accounts.

 

Assets: $ 15.7 billion

Price/ Book: 1.7

 NPLs/ Loans: 0.9% 

Reserves/ NPLs: 165%

 

East West BanCorp is headquartered in Pasadena, California. This largest bank based in Southern California mainly serves the Asian-American community. Its assets have rose 64% over the past year.

 

Price/ Book: 1.4 

NPLs/ Loans: 1.3% 

Reserves/ NPLs: 136%

 

IberiaBank’s shares trade at a multiple of 1.2 times its book value.

 

Assets: $ 10.6 billion

 NPLs/ Loans: 0.8%

 Reserves/ NPLs: 277%

 

Signature Bank, whose stock increases 51% over the past year, offers personal and business clients a single point of contact to meet all their financial needs.

 

Price/ Book: 2.1

NPLs/ Loans: 0.9%

 Reserves/ NPLs: 144%

 

 

Related links:

First Citizens BancShares, Inc.

Strategies and Best Practices of U S Community Banks

SVB Financial Group (SIVB)

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